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New Study Reveals How Moniepoint Powers Nigeria’s Downstream Oil Sector with Same-Day Settlements and Working Capital Boost

In a move to strengthen Nigeria’s downstream oil and gas sector, Africa’s all-in-one financial platform for businesses and their customers, Moniepoint Inc. says it is transforming how petrol stations across the country manage payments, access credit, and track inventory through innovative financial solutions.

As the largest distribution network for financial services in Nigeria, the leading banking and payments platform trusted by million in its latest case study titled, “Fueling the Nation: How Moniepoint Powers Nigeria’s Oil and Gas Industry”, reaffirmed its commitment to providing digital payment solutions and business management tools to improve operational efficiency in Nigeria’s downstream sector.
The study released recently examined how petrol stations play a crucial role as vital distribution points for fuel in Nigeria, especially in areas with limited access to alternative energy sources. Over 90 per cent of passenger and freight movement in Nigeria is by road, literally fueled by petrol stations that facilitate an average of 41 to 47 million litres of petrol every day.
The downstream oil and gas sector has been considered as the lifeblood of the Nigerian economy, however, for decades, petrol station operators have grappled with the “T+1” settlement cycle, where funds from card payments are only accessible the next day. In an industry with razor-thin margins and the need for immediate restocking, this delay often leads to “dead tanks” and lost revenue.
According to the case study, Moniepoint has bridged this gap by introducing same-day settlements, ensuring that station owners can access their funds instantly to pay suppliers and keep pumps running. The report further reveals that 90.9% of petrol stations now utilize POS terminals as standard infrastructure, with digital channels accounting for 43% of all fuel payments nationwide.
The Moniepoint case study on Nigeria’s downstream oil and gas sector provides very insightful commentary on critical aspects of running a petrol station, including payment systems, inventory management, and funding challenges.
Giving insight into the report and its relevance to the nation’s energy segment, Managing Director, Moniepoint Microfinance Bank, Babatunde Olofin, noted that the study seeks to deepen policy engagement, provide actionable intelligence on critical success factors needed for the nation’s socio-economic growth across different verticals.
Olofin noted, “We are pleased to release this comprehensive report on Nigeria’s downstream sector. Moniepoint’s reason for being is to create financial happiness and power dreams. Reports like this move us in that direction, enabling us to support critical infrastructure that keeps the nation moving.
“Looking at the relevance, with data on their business transactions and our business management tools, petrol stations can effectively plan their inventory and availability, knowing exactly when to stock up and ensuring operations run smoothly to serve more customers.
“By providing fuel retailers with the financial tools they need, Moniepoint is creating a future where access to reliable fuel distribution is improved and represents more than a fundamental right for all in an equitable and efficient system.”
Some other Key insights from the report include: The Liquidity Gap: 1-in-3 station owners identify access to credit as their biggest recurring challenge.
Credit Success: Moniepoint has disbursed millions of Naira in working capital to the sector with a 99.81% repayment success rate.
These tools have enabled nearly three in five fuel stations nationwide to transition from cash-dependent, manually-operated businesses into digitally-enabled enterprises with reliable access to both payments’ infrastructure and growth capital.
This study by Moniepoint comes on the heels of others like the previous case studies on family-owned businesses, South-East’s Onitsha Market, community pharmacies, women-owned businesses, North-East agriculture and the definitive Informal Economy Report, which collectively demonstrated how digital payment solutions are transforming Nigeria’s commercial landscape across diverse sectors and market structures.
Moniepoint’s ongoing commitment to financial inclusion and economic development has positioned it as a catalyst for growth across Nigeria and beyond. The company processes billions in transactions monthly and continues to expand its reach, supporting millions of businesses with payments, banking, credit, and business management solutions.
News
Army Says Terrorists Now Recruiting, Raising Funds Online

Nigerian Army has warned that terrorist and criminal groups were increasingly exploiting cyberspace to recruit members, raise funds, coordinate attacks and spread propaganda, describing the trend as a growing threat to Nigeria’s national security.

Lt.-Gen. Waidi Shaibu, chief of Army Staff (COAS), raised the alarm on Tuesday at the 2026 Nigerian Army Cyber Warfare School Seminar in Abuja.
Represented by Maj.-Gen. Jeremiah Manjang, deputy chief of Special Services and Programmes, the Army Chief said cyberspace has evolved into a strategic battlefield where both state and non-state actors operate with unprecedented speed, making security threats more complex and difficult to counter.
He noted that hostile actors no longer require physical presence to disrupt critical infrastructure, compromise sensitive information, manipulate public opinion or undermine national security through anonymous cyber attacks.
According to him, terrorism, insurgency, banditry, kidnapping, separatist agitations, organised crime, misinformation and disinformation are increasingly being enabled, coordinated and amplified through digital platforms and cyber networks.
“The reality is that terrorist and criminal groups now exploit cyberspace for recruitment, propaganda, fundraising, intelligence gathering, attack coordination and concealment of illicit financial transactions. This demands a proactive and coordinated national response,” he said.
Shaibu said the changing nature of security threats had compelled the Nigerian Army to strengthen its cyber capabilities to effectively address complex, asymmetric and technology-driven challenges.
He called for stronger cyber intelligence capabilities driven by artificial intelligence (AI), machine learning and advanced data analytics to improve early warning systems, threat detection and predictive security analysis.
The COAS also advocated deeper collaboration among government institutions, the military, law enforcement agencies, academia and the private sector, stressing that cybersecurity can no longer be handled by a single institution.
He emphasised the need for sustained investment in indigenous cyber capabilities, research, technological innovation and human capacity development to protect Nigeria’s digital sovereignty and enhance national resilience against emerging threats.
Shaibu further stated that integrating cyber capabilities into conventional military operations would strengthen surveillance, intelligence gathering, geospatial analysis, command-and-control systems, situational awareness and overall operational effectiveness.
Earlier, Brig.-Gen. Jacob Bawa, commandant of the Nigerian Army Cyber Warfare School, said the seminar was organised to deepen cybersecurity awareness, strengthen cyber resilience and promote collaboration among security stakeholders.
Bawa noted that Nigeria’s increasing reliance on digital technologies has exposed critical infrastructure, including telecommunications, power systems, financial institutions and government databases, to cybercriminals, terrorists and hostile state actors.
He said the Cyber Warfare School was established as a centre of excellence for cyber warfare training, education and research.
According to him, participants at the seminar would examine cyber resilience, threat intelligence, incident response, cyber warfare and emerging technologies with a view to developing practical recommendations for strengthening Nigeria’s cybersecurity architecture.
Also speaking, Abdulhakeem Ajijola, cybersecurity expert, warned that national security now depends significantly on the protection of digital systems, noting that artificial intelligence is transforming military operations, command structures and the protection of critical infrastructure.
Ajijola urged Nigeria to develop sovereign cyber capabilities, warning that excessive dependence on foreign-controlled software, platforms and artificial intelligence systems could undermine national resilience, operational continuity and independent decision-making during periods of crisis.
He stressed that while technology should be deployed to strengthen national sovereignty, responsibility for operational decisions must remain with human commanders.
News
Verve Strengthens Global Acceptance Across Leading Digital Platforms

Verve International, Africa’s payment cards and digital solutions brand, is strengthening its global acceptance footprint through strategic partnerships with leading digital platforms, reinforcing its role as a key enabler of digital payments and financial inclusion across the continent.

Verve has established a strong presence in more than 13 African countries, including Kenya, Uganda, The Gambia, Senegal, Sierra Leone, Benin Republic, the Democratic Republic of Congo, Rwanda, and several other markets across the continent.
This growing reach reflects Verve’s commitment to delivering secure, convenient and innovative payment solutions that empower consumers, businesses and financial institutions while advancing financial inclusion and economic participation across Africa.
As digital payments continue to transform economies across Africa, Verve remains focused on developing solutions that address local payment needs while supporting broader participation in the digital economy.
Through collaborations with banks, fintechs, merchants and payment service providers, Verve continues to drive financial inclusion and enable seamless payment experiences for millions of consumers across the continent.
Speaking on Verve’s growth trajectory and expanding reach, Vincent Ogbunude, Managing Director, Verve International, said: “Verve’s continued expansion across Africa reflects our commitment to building payment solutions that empower individuals, businesses and economies to thrive.
“Today, our presence across more than 13 African countries demonstrates the strength of our partnerships, innovation and ambition to be the preferred payment brand for Africans wherever they are.
“As digital commerce continues to evolve, we are expanding access to global opportunities through strategic partnerships with leading technology and digital platforms, while introducing innovations such as contactless payments and enhanced digital payment capabilities. Together, these efforts are enabling more seamless, secure and convenient payment experiences for consumers across Africa and beyond.”
Complementing its growing reach across Africa, Verve continues to expand its global acceptance footprint through partnerships with some of the world’s most recognised technology, e-commerce and digital service brands.
Today, Verve cardholders can conveniently make payments for products, services and subscriptions on platforms including Google, Spotify, Netflix, Facebook, YouTube Premium, Adobe, AliExpress, Temu and Flywire, among others.
These partnerships are helping bridge the gap between African consumers and the global digital marketplace by providing secure and convenient access to education, entertainment, travel, e-commerce, productivity tools and business solutions from virtually anywhere in the world.
Verve’s growth strategy is underpinned by continued investment in payment innovation. Through capabilities such as contactless payments, tokenisation and digital wallet integrations, Verve isenhancing convenience, security and user experience across physical and digital channels.
As Verve strengthens its position across existing markets and explores new growth opportunities, the company remains committed to driving financial inclusion, accelerating digital commerce and delivering innovative payment solutions that enable consumers and businesses to participate confidently in an increasingly connected world.
With an expanding presence across Africa, growing acceptance on global digital platforms and continued investment in innovation, Verve is helping connect millions of consumers to opportunities within and beyond the continent while shaping the future of Africa’s digital payments landscape.
News
FG Captures 32m Students DNEMIS ahead July 1 Rollout

Federal government has said that more than 32 million students have been captured on the Federal Government’s Digital National Education Information Management System (DNEMIS), ahead of the official launch of the platform on Wednesday, July 1.

The DNEMIS, is part of efforts to replace paper-based and fragmented education records with a single digital database.
Mr. Adebayo Onigbanjo, national project coordinator of the Special Programmes Operations and Implementation Unit in the Office of the Minister of Education, disclosed this on Monday in Abuja at a press conference.
Onibanjo said that the digital platform would transform education administration through technology and data-driven decision-making.
He said DNEMIS is the core platform of the Nigerian Education Data Infrastructure (NEDI), an initiative under the Nigeria Education Sector Renewal Initiative (NESRI), established to provide accurate, integrated and timely education data for planning, budgeting, policymaking and service delivery.
According to Onigbanjo, the platform replaces the fragmented data systems that have long constrained effective planning in the education sector.
“For many years, education planning relied on fragmented systems, inconsistent reporting structures and limited access to reliable data. DNEMIS changes that by ensuring that every learner, every school, every teacher and every investment in education is captured within a system that supports evidence-based decision-making,” he said.
He described education data as a strategic national asset, noting that the platform would strengthen transparency, accountability and governance across the sector.
Onigbanjo said the availability of reliable data would also support government efforts to tackle Nigeria’s out-of-school children challenge by enabling authorities to monitor enrolment, identify dropout patterns and target interventions where they are most needed.
“If you don’t measure, you can’t get a good sense of what the data is. Today, we already have 32 million students on the platform, and that gives us an indication of where learners are.
“We are also understanding their journey from when they start school and when they drop out. That gives us insight into their challenges and where investments need to go. Every school becomes visible, every student gets counted, every teacher is known, and every government expenditure in education becomes trackable. To a greater extent, this will stop wastage,” he said.
He added that the ultimate goal is to provide government with complete visibility into every learner’s educational journey, from enrolment through graduation, to improve learning outcomes and policy decisions.
Addressing concerns over data privacy, Onigbanjo said the platform was developed using globally recognised digital architecture with robust safeguards to protect personal information.
He explained that sensitive data would be masked while secure digital identity profiles would allow authorised users to access relevant information without exposing personal details.
Also speaking, Abubakar Isah, national coordinator, Nigerian Education Data Infrastructure (NEDI), said the system fully complies with Nigeria’s data protection regulations and international data security standards.
“We recognise the importance of data protection. We are complying with the country’s data protection rules and taking every necessary precaution to ensure that this data is secure,” he said.
Isah noted that while schools and state governments would have access to their respective data, communities, alumni associations and development partners would be able to access selected non-sensitive information to support school improvement and strengthen public accountability.
Earlier, Miss Mojoyin Adebajo, special adviser to the Minister of Education on Digital Communications and E-Learning, described DNEMIS as a major milestone in Nigeria’s digital education transformation.
She said the platform, developed on the globally recognised DHIS2 infrastructure, would digitise the Annual School Census and provide reliable information on schools, teachers, learners and education infrastructure across the country.
Adebajo added that Wednesday’s event would also witness the unveiling of the Public DNEMIS Portal, which will provide researchers, journalists, civil society organisations, development partners and members of the public with access to selected official education data through an interactive online platform.
She said the initiative underscores the Federal Ministry of Education’s commitment to promoting transparency, strengthening evidence-based planning and leveraging technology to improve educational outcomes nationwide.
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